Luke Michael Johnson of Scottsdale, AZ, a stockbroker registered with Coastal Equities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $275,000.00 in damages based upon allegations that Johnson made unsuitable recommendations of direct investments and real estate securities when Johnson was associated with Coastal Equities Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01270 (October 17, 2022).
FINRA Public Disclosure shows that Johnson has been referenced in twenty-three other customer initiated investment related disputes concerning Johnson’s conduct while associated with securities broker dealers, including Coastal Equities Inc. On November 20, 2019, a customer filed an investment related complaint involving Johnson’s conduct in which the customer requested compensation also based upon allegations that Johnson made unsuitable recommendations, made misrepresentations of material fact, and breached his fiduciary duties in connection with the sale of direct investments.
Johnson was also referenced in a FINRA securities arbitration claim that was settled for $33,792.28 in damages based upon allegations that Johnson made unsuitable recommendations and failed to perform due diligence in connection with the sale of direct investments and real estate securities. FINRA Arbitration No. 20-03522 (May 3, 2021).
On May 3, 2021, a FINRA securities arbitration claim involving Johnson’s conduct was settled for $16,098.71 in damages based upon allegations that Johnson made unsuitable recommendations of real estate securities. FINRA Arbitration No. 20-01607.
Johnson is also referenced in a FINRA securities arbitration claim in which the customer requested $345,000.00 in damages based upon allegations that Johnson made unsuitable recommendations of direct investments. FINRA Arbitration No. 22-00495 (March 9, 2022).
On May 9, 2022, a customer initiated investment related FINRA securities arbitration claim involving Johnson’s conduct was settled for $22,500.00 in damages resulting from alleged unsuitable recommendations of real estate securities. FINRA Arbitration No. 20-03956.
Johnson was also referenced in a FINRA securities arbitration claim that was settled for $100,425.00 in damages resulting from alleged unsuitable investment recommendations. FINRA Arbitration No. 21-01546 (August 22, 2022).
Johnson was associated with Coastal Equities Inc. in Scottsdale, AZ, as a stockbroker from April of 2012 to December of 2019. On November 13, 2019, Coastal Equities Inc. discharged Johnson based upon allegations that Johnson failed to comply with the securities broker dealer’s policies.
